Illinois Chamber of Commerce President Calls for Wind PTC Extension

As hopes narrow for an extension of the federal wind energy tax credit this month, Illinois Chamber of Commerce President and CEO Doug Whitley is calling on the Illinois' representatives in Congress to support the vital tax incentive.

In a letter sent to nearly every member of the Illinois Congressional Delegation, Whitley outlined the Chamber's support for the incentive and how it has helped fuel economic growth in the state. Whitley is a prominent voice for the state's business community and former Republican Gubernatorial candidate, and his support for the incentive shows the strong bi-partisan support that exists for the wind PTC. From the letter:

The Illinois Chamber of Commerce asks that you join your fellow Illinois Delegation members – Congressman Johnson and Congressman Dold – in co-sponsoring and supporting the extension of the wind energy production tax credit (PTC).  The wind PTC has incentivized developers to invest over $1 billion in wind farms in Illinois. These projects are collectively responsible for over 13,000 direct and indirect jobs during manufacturing and construction, as well as nearly 600 permanent jobs throughout rural Illinois.

 

For example, wind turbines are among the most successful type of projects supported by the PTC. Thirteen major wind power companies have their global or U.S. headquarters in Chicago, and another 100 companies in Illinois are dedicated to the wind energy supply chain. This capacity can increase if the 1,500 wind turbines in planning stages right now can come to fruition with the help of the tax credit.  Each average-sized project creates 150 temporary construction jobs, 10-15 permanent maintenance jobs, and many other indirect jobs. These opportunities range from trained laborers who service turbines to accountants to insurance agents to engineers. Furthermore, local producers of construction supplies like sand, concrete, asphalt, and gravel see increased business as developers count on their supplies to build.

In the past, when Congress has let the wind component of the PTC to expire, installations have decreased by 73 to 93 percent the next year. This sharp decrease means a parallel cut in job openings and in property tax payments and lease payments in just this industry alone.

 We don’t think the PTC should be extended forever.  However, we believe with a four-year extension the industry will have the certainty needed to bring the industry out of its infancy.  Certainly an on-again, off-again yearly battle filled with economic uncertainty cannot result in the ultimate maturity of this important new economic and energy resource.  We strive for this kind of predictable environment for any kind of energy development and for regulations as well as tax incentives. 

Therefore, we urge Congress to extend the PTC wind energy tax credit to help bring the economic benefits of renewable energy to Illinois.

 

Thank you,

Doug Whitley

President and CEO

Illinois Chamber of Commerce